Berlin cancels DB Mobility IPO
The German government said Oct. 9 it has canceled a planned initial public stock offering of DB Mobility Logistics AG, the freight forwarding, logistics business and transport arm of Deutsche Bahn.
“Given the extreme uncertainty on the financial markets and in order to ensure a fair price, the finance ministry and Deutsche Bahn have decided to pursue a stock market listing for DB Mobility Logistics AG in a better market environment,” the German Federal Finance Ministry said in a statement.
The DB Mobility IPO had been scheduled for Oct. 27 and the firm had planned to use at least half of the proceeds for acquisitions and investment.
The cancellation had been widely predicted, however, German government officials delivered mixed signals Thursday as to whether the IPO is being simply delayed or had been permanently terminated.
Berlin cancels DB Mobility IPO
